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align. >>> we are so close to the fiscal cliff right now we can pra practically look over the edge. in fact, some people are saying it might even be too late for a deal and we'll go over that cliff. harry reid just took to the senate floor 30 minutes ago to say he thinks it's likely we're going to go over the cliff. republicans like house speaker john boehner and mitch mcconnell have been radio silent on negotiations. joining me is will kain and roland martin, a political analyst and columnist. welcome to you both. >> good to see you. >> good to see you. i'm just so sad we have to talk about the fiscal cliff. let's start with you, roland. harry reid comes out and says the house isn't in session. the president is back. the house is going nowhere. john boehner is doing a terrible job and we'll likely go off the cliff because of the republicans. >> it's interesting. this morning i talked to congressman e moon yule cleaver and part of the issue deals with the house rules. they have to have 48-hours notice to come back to washington, d.c. republicans also have a rule -- >> like there are
align. >>> we are so close to the fiscal cliff right now we can pra practically look over the edge. in fact, some people are saying it might even be too late for a deal and we'll go over that cliff. harry reid just took to the senate floor 30 minutes ago to say he thinks it's likely we're going to go over the cliff. republicans like house speaker john boehner and mitch mcconnell have been radio silent on negotiations. joining me is will kain and roland martin, a political analyst and...
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Dec 29, 2012
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right. >> thank you. >> we'll be right back. >>> whether we go over the fiscal cliff or not, the debt is a huge problem. and it is not just lawmaker's crisis, it is ours too, some americans are not waiting for politicians to fix it. kyung lah met somebody who is doing something about it. >> reporter: in his garage, garcia is waiting to fix the fiscal cliff one can at a time. how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a handwritten ledger. for the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest, too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense is something garcia's wife of 59 years thinks her husband could use. do you think he is crazy? >> well -- >> reporter: call him crazy. but there is an entire federal office, the bureau of public debt that collects money from hundreds of mr. garcias. this office in parke
right. >> thank you. >> we'll be right back. >>> whether we go over the fiscal cliff or not, the debt is a huge problem. and it is not just lawmaker's crisis, it is ours too, some americans are not waiting for politicians to fix it. kyung lah met somebody who is doing something about it. >> reporter: in his garage, garcia is waiting to fix the fiscal cliff one can at a time. how much money have you sent the government? >> a little bit over $3,000. >>...
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as we near that fiscal cliff, six days now until higher taxes for all. will there be a deal? also tonight, an abc news exclusive. barbara walters at the white house. asking michelle obama if she'll run for office next. and a personal question, too. >> how do you keep the fire going? >> hmm. that's a good question. >>> made in america.
as we near that fiscal cliff, six days now until higher taxes for all. will there be a deal? also tonight, an abc news exclusive. barbara walters at the white house. asking michelle obama if she'll run for office next. and a personal question, too. >> how do you keep the fire going? >> hmm. that's a good question. >>> made in america.
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watching and so much at stake, they're going to force a fiscal cliff breaking filibuster, i think that's going to have effects that they're going to be very concerned about down the road. so we have kind of a filibuster window here, if the minority leader, if the republican leader will let us proceed that way. >> well, from your mouth to your 99 colleagues' ears, to be sure. >> yeah. >> let's take a listen at your leader, your senate majority leader reid after the meeting. >> i hope everything's a good sign. i've had my confidence destroyed on other occasions, so i hope it's not on this occasion. >> do you share harry reid's cautious optimism there? >> yeah, i think so. he and minority leader mcconnell work together day in and day out. harry is a very good negotiator, who is very familiar with these issues, and we don't, in the senate, have the same issue of the huge tea party caucus in the house that the speaker, frankly, can't get a majority of his party together, because of. so you really have such a dysfunctional republican party in the house that the president had no place to turn,
watching and so much at stake, they're going to force a fiscal cliff breaking filibuster, i think that's going to have effects that they're going to be very concerned about down the road. so we have kind of a filibuster window here, if the minority leader, if the republican leader will let us proceed that way. >> well, from your mouth to your 99 colleagues' ears, to be sure. >> yeah. >> let's take a listen at your leader, your senate majority leader reid after the meeting....
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so what is that going to do to the fiscal cliff negotiations? >> right, there are a couple deadli deadlines actually coming up. january 2nd is the last day of the current congress. any bill that's been submitted, especially the bills that have been passed, the deal with the fiscal cliff, those bills would be worthless. they would go into paper and everything would have to start from scratch. the new congress would have to start a bill and start the process from the beginning. now there are some tricks that congress has to try to speed things up when it wants to. so to some degree, it's not that big of a deal. if there was a deal in the offing, january 3rd, enough votes for it, they could get around the hurdles. but i'm glad you brought up the deadlines because another one is tomorrow. unemployment benefits run out tomorrow for 1 million people. not true. the unemployment portion of the fiscal cliff actually hits us tomorrow. and that's when 1 million people are estimated to see unemployment benefits run out. and tomorrow is also the day that the
so what is that going to do to the fiscal cliff negotiations? >> right, there are a couple deadli deadlines actually coming up. january 2nd is the last day of the current congress. any bill that's been submitted, especially the bills that have been passed, the deal with the fiscal cliff, those bills would be worthless. they would go into paper and everything would have to start from scratch. the new congress would have to start a bill and start the process from the beginning. now there...
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Dec 30, 2012
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we begin with that fiscal cliff hanger in washington, d.c. there are now just two days left until automatic tax hikes and severe budget cuts go into effect the. the president is urging them to reach a deal. senate leaders are working on a last-minute compromise. >>> a horrific accident in mississippi. six people including five children were killed when their suv plunged into a creek yesterday. the children were all related. police say four other adults including the parents of those children managed to escape. the vehicle that caused that accident is under investigation. >>> stunning video of a plane crash outside of moscow, russia, the passenger plane overshot the runway and slammed into a highway yesterday. amazing video for that. the eight members on board were killed. no passengers on the plane and no one on the highway was hurt. the cause of that crash is under investigation. >>> and finally, a celebration at the vatican. about 40,000 young pilgrims from all across europe attended an open air mass conducted by pope benedict. they cheered
we begin with that fiscal cliff hanger in washington, d.c. there are now just two days left until automatic tax hikes and severe budget cuts go into effect the. the president is urging them to reach a deal. senate leaders are working on a last-minute compromise. >>> a horrific accident in mississippi. six people including five children were killed when their suv plunged into a creek yesterday. the children were all related. police say four other adults including the parents of those...
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but i will bring going on as you know with the fiscal cliff and everything else inside the beltway right now and you have senator leahy who is saying look i've got the video privacy protection act pass congressman good good good law for thank you for working with me on that now when the new year is coming i want this electronic communications privacy law changed so it requires a warrant for everything and i'm doing something for you you do something for me that i think is what's going on behind the scenes from a consumer perspective and a law enforcement perspective there's something else here and that is a is a balance between the consumers right to privacy and the government's right to investigate a crime because ultimately that is what it will impact and which is probably why this bill has slowed down a little bit right now even though the senate judiciary committee actually had bipartisan support when it did pass it out of committee unanimously a couple months ago. interesting you had mentioned earlier about the possible concern i guess altering what viewers end up watching and our v
but i will bring going on as you know with the fiscal cliff and everything else inside the beltway right now and you have senator leahy who is saying look i've got the video privacy protection act pass congressman good good good law for thank you for working with me on that now when the new year is coming i want this electronic communications privacy law changed so it requires a warrant for everything and i'm doing something for you you do something for me that i think is what's going on behind...
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when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. it could be a few weeks before workers see more money being withheld in their paychecks. >>> george h. w.
when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500....
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Dec 29, 2012
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economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>>...
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cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up, if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120-acre vineyard in california's napa vail vale but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of the family came in before the turn of the century, and farmed orchard fruit and cattle. >> reporter: but much of the land she grew up on is gone, sold to pay estate taxes after his grandfather's death. had land back in the hills over there? >> yeah. >> reporter: had to sell it all. >> had to sell all of it? >> reporter: estate tax? >> yes. >> his grandfather died in 1972 when estate taxes were at an all-time high, 77%. >> it was a big tax bill. it was half a million dollars we sold off 150 acres, gave us something to pay the tax with. >> reporter: now, jeff and his wife mary worry their dream of passing the land on
cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up, if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120-acre vineyard in california's napa vail vale but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of...
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fiscal cliff meeting at the white house right now, four top members of congress meeting with the president in the oval office. can they avert us going over that fiscal cliff? [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new v
fiscal cliff meeting at the white house right now, four top members of congress meeting with the president in the oval office. can they avert us going over that fiscal cliff? [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use...
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over the fiscal cliff is leaving the future uncertain for one law, and farmers depend on that law. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for what you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. >> people are nervous. >> very nervous. >> what are they saying when they're coming in? what are you hearing? >> what do we do? they don't know what to do. it's so uncertain right now that the banks don't know what to do, the farmers don't know what to do. they're out there plowing the land, getting it all prepared for next year with total uncertainty. >> reporter: at stake? $154 billion in federal farm aid and crop insurance sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee rice farmer l.g. ron that his costs are covered when crops are bad or demand drops. >> so you would be out of it if there was no subsidy? >> i will be lo
over the fiscal cliff is leaving the future uncertain for one law, and farmers depend on that law. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for what you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. >> people are nervous. >> very...
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we hear that even though it is called the fiscal cliff or it is nicknamed the fiscal cliff that the effects won't be felt immediately. technically we're already there but i wonder how long, is there any sense on capitol hill when effect will start being felt by the american public? >> well we got guidance from the irs last evening and they're basically telling businesses they don't have to begin withholding at current tax rates, which are tax rates we haven't seen since the year 2000, clinton era tax rates until february 15th. in that respect you do have a little bit of time to work things out. but on top of that you also got the debt ceiling coming. there are only $200 billion worth of spending room left according to the treasury department. so all of these issues are coming into play here. there are a number of lawmakers who want to get this out of the way. they don't want to be responsible for a major tax hike which already has happened. they want to get this done and move on. there are still republicans who say you have to have spending cuts in this deal. we're not tired of not having e
we hear that even though it is called the fiscal cliff or it is nicknamed the fiscal cliff that the effects won't be felt immediately. technically we're already there but i wonder how long, is there any sense on capitol hill when effect will start being felt by the american public? >> well we got guidance from the irs last evening and they're basically telling businesses they don't have to begin withholding at current tax rates, which are tax rates we haven't seen since the year 2000,...
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we're watching what's happening on capitol hill this back and forth over the fiscal cliff. do you believe it's going to be all right? >> well you know, i have to have faith. i have to believe that the senators in congress, people understand that these are real people who are unemployed, that you know, they're making decisions on people's lives. it's just not a number. it's not just 2 million people. there are 2 million families and even those people who have not found a job that doesn't even report to the unemployment that they do not have a job, so it's many people unemployed and jobs are very hard to come by. >> karen, i'm going to have on some leadership, members of the leadership from washington in a moment and i want to you just speak to them, what do you want them to know before this meeting at the white house today? just tell them your appeal to come to some kind of deal so that your benefits don't run out. >> you want me to -- >> yes tell me what you would say to them. >> i'm sorry. i would ask them to please, come together and make a decision, a decision is needed,
we're watching what's happening on capitol hill this back and forth over the fiscal cliff. do you believe it's going to be all right? >> well you know, i have to have faith. i have to believe that the senators in congress, people understand that these are real people who are unemployed, that you know, they're making decisions on people's lives. it's just not a number. it's not just 2 million people. there are 2 million families and even those people who have not found a job that doesn't...
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. >> all right. in other major story it was not a good time for lawmakers in the senate working through the night to reverse the effects of the fiscal cliff. >> and a vote came in the wee hours of the new year's and tahman bradley has more on this last-ditch session. kind of ruined some politicians' night, didn't it? >> reporter: exactly right. happy new year to you, paula and john. the senate bill passed in the wee hours of the morning with overwhelming support and heads to the house where its fate is uncertain. as americans rang in the new year, the senate was in session in the middle of the night passing a bill after the fiscal cliff deadline had gone by. >> i think we can say we've done some good for the country. >> reporter: since lawmakers missed the midnight deadline nearly every american wakes up with higher taxes but congress can undo those tax hikes if the house passes the senate's bill. vice president biden, who was instrumental in brokering the deal, told reporters he's hopeful it can get
. >> all right. in other major story it was not a good time for lawmakers in the senate working through the night to reverse the effects of the fiscal cliff. >> and a vote came in the wee hours of the new year's and tahman bradley has more on this last-ditch session. kind of ruined some politicians' night, didn't it? >> reporter: exactly right. happy new year to you, paula and john. the senate bill passed in the wee hours of the morning with overwhelming support and heads to...
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over the fiscal cliff. but i think what is important is what harry reid said, there's a bill you could pass in the house, for the house to pass the senate bill is quickest. you can't do it because you have all the democrats and nancy pelosi can whip her caucus, she maas lie one or two, and then you need about 30 republicans, but boehner -- >> arguing the senate bill is more partisbipartisan. >> it means only 2% of people would pay the 39% tax rate on everything above 250, right? but you reason he won't even try to pass that bill, is because he doesn't want the optics with the bill being passed with mostly democrats. bainers wants it a majority of the majorities, that that will be mostly republicans passing it. that's impossible, because republicans, you can't even get 10 or 20 of them to agree on anything they think is a tax hike. so you have a stalemate of boehner's over design. >>> ryan, to you, please responds to what joann said. a year ago, did you think -- yeah, we knew this was going to happen, did yo
over the fiscal cliff. but i think what is important is what harry reid said, there's a bill you could pass in the house, for the house to pass the senate bill is quickest. you can't do it because you have all the democrats and nancy pelosi can whip her caucus, she maas lie one or two, and then you need about 30 republicans, but boehner -- >> arguing the senate bill is more partisbipartisan. >> it means only 2% of people would pay the 39% tax rate on everything above 250, right? but...
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so, what else is at stake in the fiscal cliff? let's look at the other issues, things that we are not sure will be in a deal that comes out this week. at the top of the list, government spending cuts that is 8-10% in cuts to every federal agency. and a pay cut for medicare doctors of 27% that would hit after january 1st and finally, don, there's a slew of other tax hikes. the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death. these details are new and we are still gathering information. there is david, he is in new york. david, what has this woman confessed? >> she seems to have confessed to a hate crime
so, what else is at stake in the fiscal cliff? let's look at the other issues, things that we are not sure will be in a deal that comes out this week. at the top of the list, government spending cuts that is 8-10% in cuts to every federal agency. and a pay cut for medicare doctors of 27% that would hit after january 1st and finally, don, there's a slew of other tax hikes. the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger...
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unitedhealthcare. >>> all right. down to the wire. still no deal on the fiscal cliff. are the democrats and republicans too far apart at this point to reach a deal before midnight? i hope not. >> is the cliff armageddon for the defense department. what these defense cuts would mean for national security. >>> a health scare for hillary clinton. what doctors say happened and an update on her condition. >> i'm ali velshi. >> and i'm christine romans. >> and i'm dr. sanjay gupta. john and zoraida are both off. >>> millions of americans will countdown to a fiscal cliff. a development that could send the nation back to recession. yesterday, the two parties turned to their respective closers, vice president joe biden and senate minority leader mitch mcconnell to get a back door deal done. the republican is not giving up. >> i'm interested in getting a result here. willing to work with whoever can help. there is no single issue that remains an impossible sticking point. >> all right according to the president, there has always been and still is one big sticking point. raising
unitedhealthcare. >>> all right. down to the wire. still no deal on the fiscal cliff. are the democrats and republicans too far apart at this point to reach a deal before midnight? i hope not. >> is the cliff armageddon for the defense department. what these defense cuts would mean for national security. >>> a health scare for hillary clinton. what doctors say happened and an update on her condition. >> i'm ali velshi. >> and i'm christine romans. >>...
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as the united states moves closer to the fiscal cliff with congress and the president still struggling to find common ground. dives deeper into conflict we take a look at the key developments in the civil war over the last year that's. a bit later this hour. for a growing number of wealthy britons plan to wave goodbye to the u.k. over the next two years and move their lives and money elsewhere more than a fifth of the country's millionaires are considering emigrating that's according to a recent survey by lloyd's international bank. explains what exactly is making the rich back up their luxury. blame the dismal weather that's reportedly the overwhelming reason for why one in five british million as a considering upping sticks and leaving the country now those reasons are followed closely by the high rate of crime in the u.k. and antisocial behavior and then another reason why they might want to leave is the high cost of living here in the u.k. and only in fourth place to my why they might might want to leave is the high rate of personal taxation now where are they going well top of the
as the united states moves closer to the fiscal cliff with congress and the president still struggling to find common ground. dives deeper into conflict we take a look at the key developments in the civil war over the last year that's. a bit later this hour. for a growing number of wealthy britons plan to wave goodbye to the u.k. over the next two years and move their lives and money elsewhere more than a fifth of the country's millionaires are considering emigrating that's according to a...
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more cold air. >>> we continue right now to follow the latest on the fiscal cliff talks. in just a few minutes, president obama is expected to speak to the media. he's been in meetings all afternoon with congressionally leaders. those meetings wrapped up just over an hour ago. at this point, no word of an agreement. >>> so what if there is no deal? what's the impact of going over the clip for you and your family? we8, right away on your next paycheck you'll see an increase of 2% in the social security tax. for the average family that's about $1,000 more every year. now, something that might take a few weeks, income tax rates will also rise for everyone. if you make between $50 and $75,000, you'll stand to lose about $92 every paycheck. for those making between $75 and $100,000, it's a bit more. you'll notice about $142 less every paycheck. the unemployment will also be taking a big hit in january. if congress doesn't agreed agree to an extension long-term jobless benefits will expire for more than 2 million americans. here in the district, city leader say we stand to lose
more cold air. >>> we continue right now to follow the latest on the fiscal cliff talks. in just a few minutes, president obama is expected to speak to the media. he's been in meetings all afternoon with congressionally leaders. those meetings wrapped up just over an hour ago. at this point, no word of an agreement. >>> so what if there is no deal? what's the impact of going over the clip for you and your family? we8, right away on your next paycheck you'll see an increase of...
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i think both sides are looking at if fiscal cliff right now and saying, well, we could go over this thing. it wouldn't be the end of the world and that's a very different view in washington than it is on wall street. i can tell you that. >> eamon, thanks. i know you've got a long day ahead, a long afternoon as well. eamon javers in washington. >> isn't it unbelievable. you have this huge, looming problem, i'll wait until later this afternoon to deal with it. >> and the whole sequester was a way to deal with this later. and corker, i think, on some of the morning shows this morning, senator corker said the worst case today would be to set up another later deadline that would keep the hard questions -- >> and i think a lot of this is so abstract, but if those milk prices go up for people around this country, that's going to be the thing that gets people really animated. >> that and payroll taxes, if they go up, that will hit a lot of americans across the board. >> interesting to see a lot of the stocks today that have exposure to dairy futures, whether it's an hsy, who knows? i haven't even
i think both sides are looking at if fiscal cliff right now and saying, well, we could go over this thing. it wouldn't be the end of the world and that's a very different view in washington than it is on wall street. i can tell you that. >> eamon, thanks. i know you've got a long day ahead, a long afternoon as well. eamon javers in washington. >> isn't it unbelievable. you have this huge, looming problem, i'll wait until later this afternoon to deal with it. >> and the whole...
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but the phrase with the most votes is the phrase we have used over and over and over again: fiscal cliff. in more of that. okay? >> stop it. that does it for us. tonight is the big new year's eve special. happy and healthy new year. trace is here for shepard smith on "studio b" right now. >>trace: the news begins anew on "studio b" today. president obama moments ago taking the stage to say a deal on the fiscal cliff is in sight but no compromise so exactly where do we stand in what does it mean for your war let? secretary of state, hillary clinton, in the hospital, with a blood clot week after reportedly sustaining a condition cushion in a fall. we will have the latest on that coming up. al qaeda group in yemen offering a huge reward to anyone who kills the u.s. ambassador to that country. that's all ahead unless breaking news changes everything. this is "studio b." >> first from fox at 3:00, president obama says congress is close to striking an 11 the hour deal to keep our nation from plunging off the fiscal cliff but he says the two sides still have ground to cover and the time is runn
but the phrase with the most votes is the phrase we have used over and over and over again: fiscal cliff. in more of that. okay? >> stop it. that does it for us. tonight is the big new year's eve special. happy and healthy new year. trace is here for shepard smith on "studio b" right now. >>trace: the news begins anew on "studio b" today. president obama moments ago taking the stage to say a deal on the fiscal cliff is in sight but no compromise so exactly where...
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Dec 29, 2012
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our top story tonight, the last ditch effort to avert the fiscal cliff. president obama met with congressional leaders for several hours at the white house today to try to hammer out a deal before taxes go up on more than 160 million americans. after the meeting, the president presented a new plan to avoid the cliff and said he was modestly optimistic. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over into the house and done in a timely fashion so that we met the december 31st deadline. given how things have been working in this town we have to actually wait and see until it actually happens. the one thing that the american people should not have to wait and see is some sort of action. so if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor. and i have asked senator reid to do. this put a bill on the floor that makes sure that taxes on middle class families don't go up, that unemployment insuran
our top story tonight, the last ditch effort to avert the fiscal cliff. president obama met with congressional leaders for several hours at the white house today to try to hammer out a deal before taxes go up on more than 160 million americans. after the meeting, the president presented a new plan to avoid the cliff and said he was modestly optimistic. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan...
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gregg: congressional leaders are on the floor right now talking about the fiscal cliff. this after senate majority leader harry reid said, yesterday, a significant distance remains in negotiations on resolving this. notwithstanding then about 48 hours of intense talks about spending and social security. >> i was really gratified to hear the republicans taking their demand for social security benefit cuts off the table. the truth is they should have never been on the table to begin with. there is still significant difference between the two sides but negotiations continue. >> i'm concerned about the lack of urgency here. we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that action is necessary. gregg: steve hayes, is the senior writer for "the weekly standard" and a fox news contributor. steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything
gregg: congressional leaders are on the floor right now talking about the fiscal cliff. this after senate majority leader harry reid said, yesterday, a significant distance remains in negotiations on resolving this. notwithstanding then about 48 hours of intense talks about spending and social security. >> i was really gratified to hear the republicans taking their demand for social security benefit cuts off the table. the truth is they should have never been on the table to begin with....
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Dec 24, 2012
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cliff. members of congress are still pointing firngs over who is to blame for the lack of progress. meanwhile, connecticut's independent senator, joe lieberman expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's first time i'm more likely that we'll go over the cliff than not. if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and congress are on short holiday breaks. they're due back later in the week. one possibility in all of this mess is a partial deal on taxes while putting off agreement on spending until some time down the road. >>> former president george h.w. bush may be spending thanksgiving in the hospital. he's been there since thanksgiving. he's battling bronchitis and a lingering cough. >>> south africans are sending warm wishes to former president nelson mandela. he's been in the hospital f two weeks with a lung infection. he's s
cliff. members of congress are still pointing firngs over who is to blame for the lack of progress. meanwhile, connecticut's independent senator, joe lieberman expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's first time i'm more likely that we'll go over the cliff than not. if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and...
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. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44,
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here...
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right now what we know for sure is this fiscal cliff can be avoided. everybody wants to avoid it, by extending those tax cuts on the first $250,000 that every household makes. that's the senate bill with a couple additional benefits that's before the house of representatives, john boehner should bring it to the floor for a vote. >> senator blumenthal, thank you very much for being with us, senator richard blumenthal of connecticut. ron you make an interesting point. if you project the u.s. budget out to 2020, the biggest single part of it will be the bush tax cuts so i'm not sure this business of making it permanent will make sense. >> it's hard to believe the democrats can fund the government activism they want at the time when seniors go from 40 million to 80 million. it's an extraordinary victory for republicans that that is the framework of debate now whether you're extending it for everybody or just 250 and below when virtually every democrat voted against it a decade ago. >> we have to give serious thought that taxes are going up for a short time
right now what we know for sure is this fiscal cliff can be avoided. everybody wants to avoid it, by extending those tax cuts on the first $250,000 that every household makes. that's the senate bill with a couple additional benefits that's before the house of representatives, john boehner should bring it to the floor for a vote. >> senator blumenthal, thank you very much for being with us, senator richard blumenthal of connecticut. ron you make an interesting point. if you project the...
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cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things that would be right away in a negative impact would be unemployment benefits and 2 million americans would see the unemployment benefits and that would hurt the economy and that would hurt these people that are relying on this and the unemployment insurance has been seen as economic stimulus to get hands into the money of people who need it and they were things that actually get spread over the course of 2013 if there is no fix that is actually done and it is possible for congress to go back and fix things and talking about the increase of tax rates and there will also be spending cuts to government programs as well as the military and that will be spread over with 2013 and the world doesn't come to an end if we go over this quote, unquote, fiscal cliff and instead, a lot of the damage g
cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things that would be right away in a negative impact would be unemployment benefits and 2 million americans would see the unemployment benefits and that would hurt the economy and that would hurt these people that are relying on this and the unemployment...
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about the looming fiscal cliff. >> i'm not sure what's next. i can tell you, the senate's here, we're in session, we had votes tonight. the president is here. i'm the eternal optimist. we can pass the farm bill that we passed last june. by cutting subsidies for wealthy farmers. so, there's a lot of things that we can do but it's going to take the speaker deciding that he wants to work across the aisle to get it done. >> you can catch the rachel maddow show right here on msbnc on 9:00. >>> retired four-star general norman schwarzkopf died thursday at his home in tampa, florida. he was 78. the hard-charging general, was most famous for leading coalition forces to victory during the first persian gulf war in 1991. under his command it took troops just six weeks to drive saddam hussein's army out of kuwait. gener schwarzkopf is survived by his wife brenda and their three children. >>> former president george h.w. bush are main street in intensive care this morning. while mr. bush's condition is serious, in an e-mail, a spokesperson said for the fam
about the looming fiscal cliff. >> i'm not sure what's next. i can tell you, the senate's here, we're in session, we had votes tonight. the president is here. i'm the eternal optimist. we can pass the farm bill that we passed last june. by cutting subsidies for wealthy farmers. so, there's a lot of things that we can do but it's going to take the speaker deciding that he wants to work across the aisle to get it done. >> you can catch the rachel maddow show right here on msbnc on...
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. >>> so what could the fiscal cliff mean for wall street and your retirement fund? i'm going to ask independent new york stock exchange trader in about one hour from now. >>> all right. let's switch gears here. because after newtown, gun buybacks are making headlines across the country. >>> and we're going to tell you how donors funded the biggest buyback ever in one connecticut town. i know. i'm will, and this is the nokia lumia 920 from at&t. it's got live tiles so all my stuff's always right there in real-time. it's like the ultimate personal assistant. but i'm me, and me needs handlers. so i hired todd to handle it for me. todd, gimme that hollywood news! what's happening on twitter? you're trending! yes! you can't have a todd, but you can have your own personal assistant. i guess you could call it todd. [ male announcer ] the new nokia lumia 920 with live tiles that deliver what you want in real time. only from at&t. rethink possible. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is prove
. >>> so what could the fiscal cliff mean for wall street and your retirement fund? i'm going to ask independent new york stock exchange trader in about one hour from now. >>> all right. let's switch gears here. because after newtown, gun buybacks are making headlines across the country. >>> and we're going to tell you how donors funded the biggest buyback ever in one connecticut town. i know. i'm will, and this is the nokia lumia 920 from at&t. it's got live...
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house republicans are meeting right now about their next move on the fiscal cliff. >>> survivors and family members of a horrific oregon bus crash are speaking out tonight. nine people were killed in the accident last sunday. more than 20 were injured. new home video from the scene. >> reporter: new home video shows the snowy, icy conditions along i-84 east of pendleton. here where the tour bus was 49 people onboard hit a guardrail and flew 200 feet down the embankment. it robbed over at least sxwuns came to rest upright at that time bottom of the slope. >> people screaming and yelled. some mothers screamed to find their son or daughter. >> reporter: this young man is a korean student living in vancouver, bc. late today our news partner spoke with him. he says he heard the screams, opened his eyes, then flew out a window as the bus crashed down the slope. his first thought -- he was the only survivor. >> i thought all of the people on the bus were dead because the bus was totally broken down. >> reporter: this is all that's left of the tour bus. investigators today were back at the s
house republicans are meeting right now about their next move on the fiscal cliff. >>> survivors and family members of a horrific oregon bus crash are speaking out tonight. nine people were killed in the accident last sunday. more than 20 were injured. new home video from the scene. >> reporter: new home video shows the snowy, icy conditions along i-84 east of pendleton. here where the tour bus was 49 people onboard hit a guardrail and flew 200 feet down the embankment. it robbed...
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you think both sides have decided it's in their political interest to go over the fiscal cliff. is that right? >> yeah, you never want to rule a deal off the table because we have lived through so many rounds that have ended in deals in the last couple years, but in this case, i think democrats think they get a better deal on policy by going over the cliff. that they end up getting more in taxes with less in spending cuts than they would get if they had to cut a deal right now. and republicans have persuaded themselves not completely convincingly in my view, but they have persuaded themselves it's much better to accept slightly higher taxes that they themselves don't have to vote for directly, even though they'll still be casting a vote for new tax rates, they'll be able to say, well, taxes have already gone up and we're just voting to cut them. so that's sort of how, at least, i think both sides are persuading themselves to sort of tip-toe off the cliff. >> and charles, i know you think republicans have more to lose here, but does either side get a boost from this? >> i don't t
you think both sides have decided it's in their political interest to go over the fiscal cliff. is that right? >> yeah, you never want to rule a deal off the table because we have lived through so many rounds that have ended in deals in the last couple years, but in this case, i think democrats think they get a better deal on policy by going over the cliff. that they end up getting more in taxes with less in spending cuts than they would get if they had to cut a deal right now. and...
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social security off the table for the current phy fiscal cliff. >> do not cut social security. tom: many democrats pushing to keep social security off of the table in debt talks, we learn that the program is $48 billion in the hole for 2012, and small business authority barry sloan said that the entitlement programs are what got this country in this mess in the first place. i don't think that people pay attention to that. in the greenspan era they bumped up payroll taxes for excess money going in. about this is first time there are fewer people putting in than taking out. so government has to write a check. >> it is unfortunate, the lockbox was raided. there is nothing wrong with entitlement programs, but it is the growth of those programs that are problematic. with respect to social security, we're all living longer, people need to work a little bit longer, and social security will be there for many generations if we're prudent about it 9. tom: this is the third rail, even president bush could not get social security reform done, don't touch it, is the message in wor washingto
social security off the table for the current phy fiscal cliff. >> do not cut social security. tom: many democrats pushing to keep social security off of the table in debt talks, we learn that the program is $48 billion in the hole for 2012, and small business authority barry sloan said that the entitlement programs are what got this country in this mess in the first place. i don't think that people pay attention to that. in the greenspan era they bumped up payroll taxes for excess money...
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they're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time p
they're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking....
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it's not as dire as the whole fiscal cliff situation, but there are a lot of people upset at the game show "wheel of fortune." >> it has to do with a contestant who guessed the right word but lost because of the way she said the word because of her accent. here's abc's john muller. >> reporter: she was on a roll, cruising her way towards thousands on "wheel of fortune. >> n. >> three ns. >> reporter: renee can taste victory. she's got the winning answer. >> i would like to solve. seven swans a swimming. >> reporter: or so she thought. pronouncing swimming swimmin'. >> yeah. >> that's how i speak, you know, being from florida. i had asked for the g, so i knew it was there. >> reporter: judges said it was spoken in vernacular. the twitter lit up with outrage. "wheel of fortune" hates southerners. even the other contestant handed the win couldn't believe it. >> you ddo you know what happen? >> no. >> it cost me the show. >> reporter: while the judges may be grinches, they didn't feel our christmas spirit, even if she sings it seven swams a swimmin'. >> it's been such a whirl wind, i feel
it's not as dire as the whole fiscal cliff situation, but there are a lot of people upset at the game show "wheel of fortune." >> it has to do with a contestant who guessed the right word but lost because of the way she said the word because of her accent. here's abc's john muller. >> reporter: she was on a roll, cruising her way towards thousands on "wheel of fortune. >> n. >> three ns. >> reporter: renee can taste victory. she's got the winning...
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cliff. today, after the president returned from his vacation in hawaii, he did meet with his senior advisors. they did conduct some back- channel negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the nation on friday-- raise income taxes for households earning more than $250,000, extend unemployment benefits for those americans out of work for more than six months, and try to find some other means to avert the fiscal cliff before that deadline, and tomorrow, may give us a glimmer of hope but as i said, the white house does not consider this a breakthrough, but everyone is and will be talking. >> glor: major garrett at the white house. thank you. all of this uncertainty is already affecting the economy.
cliff. today, after the president returned from his vacation in hawaii, he did meet with his senior advisors. they did conduct some back- channel negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the...